Â鶹ԼÅÄ

UK Prime Minister Boris Johnson has said there is a "strong possibility" the UK will fail to strike a post-Brexit trade deal with the EU.

Speaking for the first time since a crunch meeting in Brussels, Boris Johnson said "now is the time" for firms and people to prepare for a no deal outcome.

Although talks continue between the two sides, but Mr Johnson said they were "not yet there at all" in securing a deal.

Time is running out to reach an agreement before the UK stops following EU trade rules on 31 December.

Weeks of intensive talks between officials have failed to overcome obstacles in key areas, including competition rules and fishing rights.

Newsnight’s Political Editor Nick Watt reports.